Quote from: neochiny on December 09, 2016, 01:59:56 PM

Quote from: Xester on December 09, 2016, 12:40:29 PM

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It wouldn't surprise me if / when usd has a huge crash or is hyperinflated that we'll comparing everything to a bitcoin (or another cryptocurrency).

It is possible that bitcoin will add to US currency financial crisis when people are leaving the banks and replace fiat currency with bitcoins. Soon more Americans, Russians, Chinese will leave the banks to rot and will shift to cryptocurrency.

China will be the top of society since they have major holdings on bitcoin.

But the U.S. is too dependent on credit. The average citizen has multiple credit cards, and they keep on charging and charging. Then there's the Property Mortgages, where a single property could be mortgaged not just once, but even twice. I haven't seen a nation as dependent on their credit cards.
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True, I visited the US once and I was shocked that my credit card can do so much! Want a drink? Credit card vending machines. Pay for parking? Credit card automatic payment machine. Need to buy something from a local convenience store? They accept card even for only a dollar bought from the store. This isn't the case in my country. We usually can only use credit cards for big purchases (around $10 or more). My country doesn't rely too much on credit like the US does. I think this was their downfall like how the real estate under credit bubble they had before.